Annual Plan Limits
Each year the U.S. government adjusts the limits for qualified plans and Social Security to reflect cost-of-living adjustments and changes in the law. Many of these limits are based on the “plan year” as defined in the plan document. The elective deferral and catch-up limits are always based on the calendar year.
|
| Compensation |
$280,000 |
$275,000 |
$265,000 |
$265,000 |
$260,000 |
$255,000 |
| Limits on benefits and contributions: |
- Defined contribution plans
|
$56,000 |
$55,000 |
$53,000 |
$53,000 |
$52,000 |
$51,000 |
|
|
$225,000 |
$220,000 |
$210,000 |
$210,000 |
$210,000 |
$205,000 |
- 401(k), 403(b) and 457 plan elective deferrals
|
$19,000 |
$18,500 |
$18,000 |
$18,000 |
$17,500 |
$17,500 |
- SIMPLE plan elective deferrals
|
$13,000 |
$12,500 |
$12,500 |
$12,500 |
$12,000 |
$12,000 |
|
|
$6,000 |
$5,500 |
$5,500 |
$5,500 |
$5,500 |
$5,500 |
| Catch-up contributions: |
- 401(k), 403(b) and 457 plans
|
$6,000 |
$6,000 |
$6,000 |
$6,000 |
$5,500 |
$5,500 |
|
|
$3,000 |
$3,000 |
$3,000 |
$3,000 |
$2,500 |
$2,500 |
|
|
$1,000 |
$1,000 |
$1,000 |
$1,000 |
$1,000 |
$1,000 |
| “Highly Compensated” definition |
$125,000 |
$120,000 |
$120,000 |
$120,000 |
$115,000 |
$115,000 |
| “Key Employee” definition: |
|
|
$180,000 |
$180,000 |
$170,000 |
$170,000 |
$170,000 |
$165,000 |
|
|
$150,000 |
$150,000 |
$150,000 |
$150,000 |
$150,000 |
$150,000 |
| Social Security Taxable wage base |
$132,900 |
$128,400 |
$118,500 |
$118,500 |
$117,000 |
$113,700 |
The 2015 limits will remain unchanged for 2016 because the increase in the cost-of-living index did not meet the statutory thresholds that trigger their adjustment.
|
